- German factory orders fell 0.4%m/m in April, versus 3.8% expected.
- German industrial production fell -9.9% yoy in April, versus -8.4% expected.
- EUR/USD remains near 1.0725 after negative data from Germany.
Factory orders data in Germany showed an unexpected drop in April, suggesting that the recovery of the manufacturing sector is losing momentum.
The latest data released by the Federal Statistical Office showed on Tuesday that Ordering of “Made in Germany” goods was -0.4% in the month, vs. 3.8% expected and the previous -10.9%.
In annualized terms, German industrial orders stood at -9.9% in the reported month, compared to the -8.4% forecast and the drop of -11.2% observed in March.
Repercussions in the foreign exchange market
The common currency is not affected by the bad data from German factories. At time of writing, the EUR/USD pair is trading at 1.0723, up 0.11% on the day.
Source: Fx Street
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